July 2nd Closing Market Review: Investor Sentiment Scarier Than Meta Shock... The Reason Why Patience Is Needed Now in the Semiconductor Plunge Market

Summary

The KOSPI plunged 7.9% and KOSDAQ 6.7% as semiconductor stocks sank on fears that Meta's data center leasing signaled weaker AI capex. Experts Kim Jang-yeol and Lee Kwon-hee argued the sell-off is noise-driven, with fundamentals intact, and that Samsung Electronics and SK hynix are oversold buying opportunities. They also highlighted Samsung SDS, HYBE, and Hanmi Pharmaceutical as stocks with rebound potential, while defensive sectors like financials, cosmetics, and entertainment held up.

• KOSPI falls 7.9%, KOSDAQ 6.7%, worst day since May 27 ETF-driven drop.
• Memory stocks collapse on Meta data center leasing news interpreted as AI capex cut.
• JP Morgan says capex not declining, casting doubt on the bearish narrative.
• Samsung Electronics hits 60-day moving average, SK hynix breaks 20-day; oversold.
• Experts advise patience and installment buying; view sell-off as sentiment-driven.
• Sector rotation: financials gain on rate hike expectations, cosmetics and entertainment resilient.
• Samsung SDS, HYBE, Hanmi Pharmaceutical cited as specific positive rebounds.
• Korea’s CPI hits 3.2% in June, fueling rate hike talk and supporting bank stocks.